Cloud Storage Market Value May Triple In Next Five Years

Growing need for enterprise mobility and demand for backup options has forecasters predicting the cloud storage market will grow more than three-times in value between 2016 and 2021.

In a new report by Markets and Markets, analysis shows a whopping 25.8% CAGR between those years for the cloud storage market. The forecast uses 2015 as a base model. Slightly more than half of that growth will come from North America, at 51%, while Europe takes up the second-largest market share at 29%.

The report says cloud storage as an industry will grow from $23.76 billion in 2016 to $74.94 billion in 2021.

Mobile Cloud Computing and Security will be the next topic of Enterprise Mobility Exchange’s October event being held in Miami, where 40 CIOs, CISOs, and security directors from across all industries will meet, including keynote speakers and private networking opportunities. Find out more about the event here.

To get a glimpse of what speakers will be showcasing at the event, click here to learn how Southeastrans approached cloud storage solutions, and here to see how Aetna managed more than 12,000 mobile devices in its enterprise.